18. DSP Company earned P100,000 on sales of P1,000,000. It earned P130,000 on sales of P1,100,000. Contribution margin as a percentage of sales is: Your answer
Q: a. M&R Company provided $3,100 in services to customers in December, which are not yet recorded.…
A: Adjusting entries are those journal entries which are recorded by the business at the end of…
Q: Required information Use the following information for the Quick Studies below. (Algo) [The…
A: calculation of annual dollar change and percentage changes are as follows
Q: 56. On January 1, 2018, Schmidt Industries purchased a new paint sprayer for $400,000. The salvage…
A: Depreciation is a form of non cash expense, which is charged as reduction of cost of asset over its…
Q: ould anyone explain this question? indicate the financial statement on which the account’s balance…
A: Financial statements are those statements which are prepared at the end of the period for analysing…
Q: a. Based on the above data, determine the different costs listed below. If required, round your…
A: Production report refers to the report under which details of the product manufactured, at what…
Q: Equivalent Units of Production The following information concerns production in the Baking…
A: Equivalent unit means the total number of units that are supposed to be produced using the same…
Q: . $20,200 b. $7,700 c. $5,200 d. $7,300
A: A balance sheet is a tool for measuring the performance and financial position of every organization…
Q: The price of a system of jockey pumps is P6,000,000. PLM decided to purchase this system and spent…
A: Depreciation is the allocation of cost of asset over the useful life of the asset. It can be charged…
Q: Cost of Production and Journal Entries AccuBlade Castings Inc. casts blades for turbine engines.…
A: The equivalent units are calculated on the basis of the percentage of the work completed during the…
Q: A company has an overhead application rate of 123% of direct labor costs. How much overhead would be…
A: In job costing, overhead is allocated to the job on an allocation basis. Allocation basis could be…
Q: The most recent financial statements for Crosby, Incorporated, follow. Sales for 2021 are projected…
A: Financial statements are a collection of summary level reports about a firm's financial result or…
Q: Mahon Corporation has two production departments, Casting and Customizing. The company uses a…
A: The predetermined overhead rate is calculated as estimated overhead cost divided by estimated base…
Q: of the selling price is $21.60 per unit, the contribution margi $5.70 O $8.15 $3.90
A: Contribution is an important component for a businessman to understand the amount he is getting as a…
Q: Journalize the entries for costs transferred from Milling to Sifting and the costs transferred from…
A: 1 White Diamond Flour Company Journal Entries Date Particulars Debit Credit…
Q: 3. In connection with the audit of ATONG Company's financial statements, you found the following…
A: Accounts receivables are those customer accounts to whom business has made credit sales on account…
Q: What im
A: Expenses incurred day to day running of the business such as rent salaries wages power fuel etc.…
Q: Stairway Company sells a single product. The company's most recent income statement is given below:…
A: Contribution margin is a portion of sales revenue which do not consume by variable cost and…
Q: Jim Company issued P 4,000,000 of 8 ½%, 5- year bonds on March 1,2018. Interest payment dates are…
A: Since we answer only up to three sub-parts, we shall answer the first three. Please resubmit a new…
Q: 4. Selwyn's Service applied overhead on the basis of direct labor costs during the current year.…
A: Variance is the result of the amount of expected value and actual results. It can be calculated by…
Q: If assets are $900,000, capital $500,000, then using the basic accounting equation what is…
A: An accounting equation refers to a mathematical representation of the transaction. It indicates that…
Q: Stairway Company sells a single product. The company's most recent income statement is given below:…
A: Income statement: The income statement shows the company's revenues and expenses earned during the…
Q: Congress would like to increase tax revenues by 5.5 percent. Assume that the average taxpayer in the…
A: Given, Average income = $56,000 Average tax rate = 20% Increase in tax = 5.5% Workings :- 1)…
Q: LAS Corporation shows the following accounting record for sales commissions 15,000 beginning…
A: Income Statement :— Income Statement provides the net income and Loss during the year. Income…
Q: BBP, Inc., with sales of $600,000, has the following balance sheet: BBP, Incorporated Balance…
A: Additional Funds Needed = Projected Increase in Assets - Spontaneous Increase in Liabilities - Any…
Q: Progressive Manufacturing purchases trees from Tree Nursery and processes them up to the splitoff…
A: Split off point :— It is the point of separation of joint products into separate products. Joint…
Q: cial Accounting & Reporting III ses Part 2, In-class activity #2 ses R Us (LRU) has been approached…
A: A lease is defined as the contract between two parties for use of an asset. The rent which the…
Q: One of the significant remaining differences between U.S. GAAP and IFRS is the treatment of…
A: Inventory valuation method includes: FIFO Method LIFO Method Weighted average method FIFO Method -…
Q: Given the following projected contribution income statement for the coming year: Sales (100 units)…
A: Contribution margin=Sales-Variable costsOperating income=Contribution margin-Fixed costs
Q: The local shampoo market is dominated by two brands: Clean Hair, which owns 53% of the market, and…
A: Formula used here:- All over market share of the All-Over Shampoo = All over unit sales/Total…
Q: Prior to the first month of operations ending October 31, Marshall Inc. estimated the following…
A: Income statement in the cost accounting can be prepared using two methods; Absorption costing and…
Q: Financial Statements from the End-of-Period Spreadsheet Triton Consulting is a consulting firm…
A: preparation of income statement, stock holders equity, and balance sheet are as follows
Q: 15:58 0.00 N KB/S go.room.sh/?room=3ec0b922-e618- Question F Polk, after being in Bakery business…
A: Journal entries recording is to be treated as first step of accounting cycle process, under which…
Q: Accounting for the Equity Investment When Price Exceeds Book Value Assume an investor purchases all…
A: The investor has purchased all the shares of the investee company, therefore the Equity method is…
Q: 5. What numbers might discourage re-upping? Explain. The Average cost per steer to drive cattle…
A: 1. Approximate US population in the early 1870s is 40,000,000 The estimated no of cowboys in the…
Q: provide the journal entry for December 31, 2022
A: Bond refers a document certifying a debt amount . There is a fixed interest paid to the lender of…
Q: On January 1, 20X2, Plend Corporation acquired all of Stork Corporation's assets and liabilities by…
A: The question is based on the concept of Financial Accounting. When the net asset assets are acquired…
Q: he question is required to answer year by year. Meaning separately 2016 quick ratio, 2017 quick…
A: Current Ratio - Current Asset / Current Liability This Ratio suggest whether the company has…
Q: arris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct…
A: Answer : Predetermine overhead rate : Predetermine overhead rate = Fixed manufacturing rate +…
Q: Motopads Manufacturing, Inc. manufactures a single product. Variable manufacturing overhead is…
A: Variance analysis is one of the important technique being used in management accounting. Under this…
Q: A Merchandising Business purchases products from its vendors for resale to its customers. True or…
A: Merchandising Companies: Retailers and wholesalers are the two types of merchandising organizations…
Q: union. Can a trade diverting customs union result in trade creation?
A: Definition: Trade creation entails new trade that is always advantageous for the countries in terms…
Q: 1-3. Tangerine Company and Mr. Orange organized Citrus Corp. with authorized voting common stock of…
A: 1. Tangerine company basis in citrus stock = $300,000*40%= $120,000 So, correct option is - B)…
Q: What are the major characteristics of PCAOB inspections? b. What types of firms typically have…
A: PCAOB (Public Company Accounting Oversight Board) inspection is designed to assess the firm's…
Q: compute the adjusted balances of the following accounts: 5. Total operating expenses 6.…
A: Hi student Since there are multiple subparts asked, we will answer only first three subparts. If you…
Q: Tanner-UNF Corporation acquired as a long-term investment $240 million of 6% bonds, dated July 1, on…
A: Bond :— Bonds are also known as fixed income instruments & are used by governments or companies…
Q: Exercise 3-27 Balance Sheet Preparation From the following list of accounts, prepare a balance sheet…
A: Classified balance sheet is one of the financial statement being prepared by the business. Under…
Q: Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger of materials…
A: preparation of subsidiary ledger under FIFO method and calculation of inventory balance at the end…
Q: At the beginning of the year, a company estimates total direct materials costs of $1890,000 and…
A: It is given that: Estimated direct material cost - $ 1,890,000 Total overhead cost- $ 2,627,000…
Q: Which of the following is business income for NOL purposes? Interest earned on savings account.…
A: If your deductions for the year are more than your income for the year, you may have a net operating…
Q: Pete manages the nursing department of a local long-term rehabilitation center. He has positions for…
A: Employee turnover means that ratio is that which is calculated for seeking the effect on cost due to…
Step by step
Solved in 2 steps
- If a company has fixed costs of $6.000 per month and their product that sells for $200 has a contribution margin ratio of 30%, how many units must they sell in order to break even? A. 100 B. 180 C. 200 D. 2,000Faldo Company produces a single product. The projected income statement for the coming year, based on sales of 200,000 units, is as follows: Required: 1. Compute the unit contribution margin and the units that must be sold to break even. Suppose that 30,000 units are sold above the break-even point. What is the profit? 2. Compute the contribution margin ratio and the break-even point in dollars. Suppose that revenues are 200,000 greater than expected. What would the total profit be? 3. Compute the margin of safety in sales revenue. 4. Compute the operating leverage. Compute the new profit level if sales are 20 percent higher than expected. 5. How many units must be sold to earn a profit equal to 10 percent of sales? 6. Assume the income tax rate is 40 percent. How many units must be sold to earn an after-tax profit of 180,000?Maple Enterprises sells a single product with a selling price of $75 and variable costs per unit of $30. The companys monthly fixed expenses are $22,500. What is the companys break-even point in units? What is the companys break-even point in dollars? Construct a contribution margin income statement for the month of September when they will sell 900 units. How many units will Maple need to sell in order to reach a target profit of $45,000? What dollar sales will Maple need in order to reach a target profit of $45,000? Construct a contribution margin income statement for Maple that reflects $150,000 in sales volume.
- Schylar Pharmaceuticals, Inc., plans to sell 130,000 units of antibiotic at an average price of 22 each in the coming year. Total variable costs equal 1,086,800. Total fixed costs equal 8,000,000. (Round all ratios to four significant digits, and round all dollar amounts to the nearest dollar.) Required: 1. What is the contribution margin per unit? What is the contribution margin ratio? 2. Calculate the sales revenue needed to break even. 3. Calculate the sales revenue needed to achieve a target profit of 245,000. 4. What if the average price per unit increased to 23.50? Recalculate: a. Contribution margin per unit b. Contribution margin ratio (rounded to four decimal places) c. Sales revenue needed to break even d. Sales revenue needed to achieve a target profit of 245,0003. Boo Company's current sales volume is 7,200 units with selling price of P15 per unit. The company has total fixed costs of P720,000 within a range of 2,500 to 7,500. At breakeven point, how much total contribution margin does Boo Company earn?Bramble Corp. has a weighted-average unit contribution margin of $30 for its two products Standard and Supreme. Expected sales for Bramble are 60000 Standard and 40000 Supreme. Fixed expenses are $1950000. At the expected sales level, Bramble's net income will be O $3000000. O$750000. O $(450000). $1050000. e Textbook and Media
- Foris Company's product sells for P16 and has a variable cost per unit of P12. Fixed costs are P120,000. a. Compute the break-even point in pesos.b. Compute the number of units Foris must sell to earn a P30,000 profit.c. Foris has a target profit of P36,000 and expects to sell 30,000 units. Compute the selling price Foris must charge to earn the target profit.d. Foris wants to keep its selling price at P16 per unit and earn a 10% return on sales. Calculate the number of units Foris must sell to meet the target.Omega Enterprise sells two products, Model E100 and F900. Monthly sales and the contribution margin ratios for the two products, follow : Product.. Model E100 Model F900 Total Sales P700,000 P300,000 1,000,000 Contribution margin ratio The company's fixed expenses total P598, 500 per month. 60% 70% ? 3. What is the company's total contribution margin ratio? (2-43) a. 60% c. 70% b. 63% d. 65% 4. What is the company's total net operating income? (2-44) a. P630,000 b. P 31,500 5. The break-even point for the company based on the current sales mix is (2-44) a. P900,000 b. P950,000 P210,000 P420,000 C. d. P1,000,000 P1,050,000 c. d.Jack's Jax has total fixed costs of $25,000. If the company's contribution margin is 60%, the income tax rate is 25% and the selling price of a box of Jax is $20, how many boxes of Jax would the company need to sell to produce a net income of $15,000? OA. 5,625 B. 4,445 C. 3,750 D. 3,333
- Madlock, Inc. sells a product with a contribution margin of $10 per unit. Fixed costs are $1,800 per month. How many units must Madlock sell to break even? Begin by showing the formula and then entering the amounts to calculate the units Madlock must sell to break even. (Abbreviation used: CM = contribution margin. Complete all input fields. Enter a "0" for items with a zero value.) Target profit ) = Fixed costs ▼ + + HH CM per unit TOD Carmen Required sales in unitsJack’s Jax has total fixed costs of $25,000. If the company’s contribution margin is 60%, the income tax rate is 25% and the selling price of a box of Jax is $20, how many boxes of Jax would the company need to sell to produce a net income of $15,000? a. 5,625 b. 4,445 c. 3,750 d. 3,3331. NewB Company sells bags with a selling price of P10,000 per bag and a variable cost of P4,000 per unit. NewB’s monthly fixed expense is P3,000,000. Let Q be the number of units manufactured Required: a. Construct the total cost function b. Construct the profit function c. Compute the contribution margin ratio. d. Compute total revenues needed to break even. e. Determine the breakeven point in units sold and sales in pesos. f. Compute required sales needed to achieve a target net income of₱1,500,000 in units sold and sales in pesos g. Determine margin of safety if current sales is P8,750,000
